Twinbeech Capital LP Purchases Shares of 4,620 Onsemi (NASDAQ:ON)

Twinbeech Capital LP purchased a new stake in shares of Onsemi (NASDAQ:ON) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,620 shares of the semiconductor company’s stock, valued at approximately $291,000.

Other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in Onsemi during the 4th quarter valued at $41,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Onsemi during the 4th quarter valued at $43,000. Synergy Asset Management LLC purchased a new stake in shares of Onsemi in the 4th quarter worth about $51,000. Plato Investment Management Ltd purchased a new stake in shares of Onsemi in the 4th quarter worth about $51,000. Finally, Rakuten Securities Inc. lifted its position in shares of Onsemi by 434.6% in the 4th quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 691 shares during the period. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ON shares. TD Cowen raised their target price on shares of Onsemi from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Onsemi in a research report on Tuesday, May 6th. Robert W. Baird dropped their target price on shares of Onsemi from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. B. Riley cut shares of Onsemi from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Thursday, April 24th. Finally, Benchmark dropped their target price on shares of Onsemi from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Onsemi presently has an average rating of “Moderate Buy” and a consensus target price of $54.12.

Onsemi Stock Down 2.4%

Shares of Onsemi stock opened at $41.27 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.38 and a current ratio of 5.06. The stock has a market capitalization of $17.25 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 16.74 and a beta of 1.39. Onsemi has a 52-week low of $31.04 and a 52-week high of $80.08. The company has a 50-day simple moving average of $39.76 and a two-hundred day simple moving average of $52.14.

Onsemi (NASDAQ:ON) last issued its earnings results on Monday, May 5th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Onsemi had a net margin of 22.21% and a return on equity of 20.10%. The business’s revenue for the quarter was down 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 earnings per share. On average, analysts anticipate that Onsemi will post 2.6 EPS for the current fiscal year.

Onsemi Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.